Landmark Investment Partners L.P. Buys New Shares in Churchill Downs Incorporated (NASDAQ:CHDN)

Landmark Investment Partners L.P. acquired a new position in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 99,723 shares of the company's stock, valued at approximately $13,317,000. Churchill Downs makes up 5.4% of Landmark Investment Partners L.P.'s holdings, making the stock its 7th biggest holding. Landmark Investment Partners L.P. owned about 0.14% of Churchill Downs at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in Churchill Downs by 59.2% in the 3rd quarter. Barclays PLC now owns 29,584 shares of the company's stock valued at $4,000,000 after purchasing an additional 11,006 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Churchill Downs during the third quarter worth about $27,000. Tidal Investments LLC boosted its stake in shares of Churchill Downs by 295.2% in the 3rd quarter. Tidal Investments LLC now owns 6,988 shares of the company's stock valued at $945,000 after buying an additional 5,220 shares during the period. Synovus Financial Corp grew its stake in shares of Churchill Downs by 3.0% during the third quarter. Synovus Financial Corp now owns 10,381 shares of the company's stock worth $1,404,000 after purchasing an additional 303 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Churchill Downs by 6.6% in the third quarter. Franklin Resources Inc. now owns 197,118 shares of the company's stock valued at $27,338,000 after purchasing an additional 12,156 shares in the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Price Performance

Churchill Downs stock traded down $1.01 during mid-day trading on Wednesday, hitting $90.41. 1,060,753 shares of the company were exchanged, compared to its average volume of 538,575. Churchill Downs Incorporated has a 12-month low of $85.58 and a 12-month high of $150.21. The company has a market capitalization of $6.53 billion, a P/E ratio of 15.92, a PEG ratio of 2.95 and a beta of 0.86. The business's 50 day simple moving average is $106.68 and its two-hundred day simple moving average is $124.05. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.07 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.01). The company had revenue of $642.60 million for the quarter, compared to analysts' expectations of $649.68 million. Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The company's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.13 EPS. Analysts forecast that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.27%. Churchill Downs's payout ratio is 7.12%.

Churchill Downs declared that its Board of Directors has authorized a stock buyback plan on Wednesday, March 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. JMP Securities reissued a "market outperform" rating and issued a $157.00 price target on shares of Churchill Downs in a research report on Thursday, April 24th. Jefferies Financial Group dropped their price target on Churchill Downs from $160.00 to $127.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Barclays cut their target price on shares of Churchill Downs from $125.00 to $124.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Stifel Nicolaus reduced their target price on shares of Churchill Downs from $161.00 to $142.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Finally, StockNews.com raised Churchill Downs from a "sell" rating to a "hold" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $144.80.

About Churchill Downs

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino Resort.